Stablecoins and Crosschain Loans: 2 Projects Attempt to Bring Defi Solutions to Bitcoin
While decentralized finance (defi) solutions have grown popular on the Ethereum blockchain, developers have recently created similar systems by leveraging BTC’s network. A project called Atomic Loans claims to offer a noncustodial bitcoin-backed stablecoin solution, while Money on chain a new smart contract built on the RSK protocol, also offers a stablecoin token. An Attempt to Defi Bitcoin There’s been a lot of buzz over...
Consensys Cuts Hundreds of Jobs This Year – About 25% of Its Staff Slashed
Ethereum-based company Consensys has cut hundreds of jobs since January. In its latest action, the US-based blockchain development team confirmed it will slash more than 90 jobs – or 14% of its workforce – citing the global impact of Covid-19. The decision comes after a virtual town hall meeting on April 20, reports say. The number of employees sacked at Consensys this year now runs into a few hundred, following another...
Bitcoin Halving Searches Surge – Phrase Touches Google Trends All-Time High
The notorious bitcoin halving is expected to happen in 20 days either on or around May 12, 2020. The anticipation leading up to the event is at an all-time high, as last week worldwide queries for the phrase “bitcoin halving” using Google peaked with a top score of 100. On Tuesday, Google Trends shows the phrase is still surging holding a score of 90 over 100 during the last 24 hours. The Phrase ‘Bitcoin...
Zcash Foundation Cuts Q1 Spending 17% to $2.7 Million – ZEC Tanks 9% in 24 Hours
The Zcash Foundation cut spending by 17% during the first three months of this year due to Covid-19 pressures. In its first-quarter report, the foundation said it spent only $2.68 million from an initial budget of $3.24 million. The report says: Our budget reduction primarily stems from cancelling Zcon2 and reduced travel expenses. Zcash is a popular coin centered on privacy. At the end of the quarter, the Zcash Foundation held about...
Federal Reserve Index: The US Is Already in Recession
The Federal Reserve Bank of Chicago’s monthly index has plunged, suggesting that the U.S. has entered a recession. The index is designed to gauge the overall U.S. economic activity and inflationary pressure. It is a weighted average of 85 monthly indicators. Fed Index Suggests the US Already in Recession The Federal Reserve Bank of Chicago released its national activity index on Monday that suggests the U.S. has entered a...
